business insurance

Customarq for Law FirmsProperty and Liability Product comparison

Property Coverage Features Customarq for Law Firms

Typical Industry Policy (Rev. 6/07)

Automatic Blanket Limit $500,000 No

accounts receivable included not available

electronic Data Processing Property included Must Purchase, except electronic Data – $2,500 annual aggregate, named perils only

Fine arts included Treated as Personal Property

Leasehold interest – bonus Payment, Prepaid rent, sublease Profit, Tenants’ Lease interest

included Must Purchase (sublease Profit not available)

Leasehold interest – electronic Data Processing equipment included not available

Leasehold interest – undamaged Tenant’s improvements & betterments included not available

nonowned Detached Trailers included $5,000

Outdoor Trees, shrubs, Plants or Lawns included $1,000, not more than $250 for any one tree, shrub or plant

Pair and set included Must Purchase

Personal Property of employees included $2,500 including Personal Property of Others

Physical evidence included Treated as Personal Property or Valuable Papers

Public safety service charges included $1,000 (Fire Dept. service charges)

Valuable Papers included $2,500, named perils only

Property Features

any Other Locationaccounts receivable building components communication Property eDP equipment Fine arts Personal Property Physical evidence

$25,000 $25,000 $25,000 $75,000 $25,000 $50,000 $50,000

not available Treated as Personal Property Treated as Personal Property Treated as Personal Property Treated as Personal Property $10,000 at temporary or leased storage location only Treated as Personal Property or Valuable Papers

arson or Theft award 25% of loss, up to a maximum of $25,000

not available

burglary Damage to building (tenant) Yes, subject to Personal Property limit

not available

Debris removalPremises shown in Declarations any Other Location in Transit

$500,000 $50,000 $50,000

$10,000 not available not available

Deferred Payments $5,000 not available

electronic Data & Valuable Papers While at unspecified Premises $50,000 electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available

electronic Data & Valuable Papers While in storage away From Premises $100,000 electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available

exhibition, Fair or Trade showeDP Property Fine arts Personal Property

$25,000 $25,000 $25,000

Treated as Personal Property, but electronic Data is limited to $2,500 annual aggregate for named perils only Treated as Personal Property $10,000

Fungus cleanup or removal $50,000 annual aggregate

$15,000 annual aggregate (Fungus, Wet rot, Dry rot and bacteria)

installationany Job site in Transit

$5,000 $5,000

not available not available

in Transitaccounts receivable building components eDP Property Fine arts Personal Property Physical evidence Valuable Papers

$100,000 included included included included included included included

not available Treated as Personal Property Treated as Personal Property, but electronic Data is limited to $2,500 annual aggregate for named perils only Treated as Personal Property $5,000, named perils only Treated as Personal Property or Valuable Papers not available

Loss of Master Key $25,000 not available

Loss Prevention expenses $15,000 not available

Mobile communication Property (away from premises) $10,000 Treated as Personal Property

Money & securitiesOn Premises Off Premises

$25,000 $25,000

not available not available

newly acquired Premises or newly acquired or constructed Propertybuilding Personal Property Personal Property at existing Premises eDP equipment electronic Data & Valuable Papers communication Property Fine arts

180 days $2,000,000 $1,000,000 $100,000 $1,000,000 $150,000 $250,000 $25,000

30 days $250,000 $100,000 $100,000 Treated as Personal Property electronic Data - $2,500 annual aggregate, named perils only Valuable Papers - not available Treated as Personal Property Treated as Personal Property

Personal Property of Others included in Personal Property limit

$2,500

Pollutant cleanup or removal $50,000 annual aggregate

$10,000 annual aggregate

Preparation of Loss Fees $25,000 not available

research & Development Property $10,000 $2,500, Treated as Valuable Papers

underground pipes, flues and drains Yes no

Valuation

replacement cost Yes, on same or another site

Yes, on same site or another site; subject to cost at original site

Ordinance or Law Yes Lesser of 5% of building limit or $10,000 for increased cost of construction

selling Price on Finished stock Yes Must Purchase

brands & Labels Yes Must Purchase

extended Warranties Yes not available

construction Fees Yes Yes

Personal Property of Others replacement cost actual cash Value, unless replacement cost option purchased

Property/Income Perils

boiler & Machinery automatically included (electric arcing, mechanical breakdown and steam boiler explosion)

Yes Electric Arcing: no, with an exception for loss from ensuing fire Mechanical Breakdown: no, with an exception for loss from ensuing elevator collision Steam Boiler Explosion: no, with an exception for loss from ensuing fire or combustion explosion

Water damage (other than flood) including backup of sewers and drains, seepage, leakage or influx of water, surface water and mudflow

Yes no, with an exception for loss from ensuing fire, explosion or sprinkler leakage

Property Coverage Features Customarq for Law Firms

Typical Industry Policy (Rev. 6/07)

change in temperature or humidity Yes Yes, except Personal Property

Marring and scratching Yes Yes, except Personal Property

earth movement (other than earthquake) caused by mine subsidence, landslide, mudslide and volcanic eruption

Yes no, with an exception for loss from fire or explosion that ensues from earth movement; or fire, building glass breakage or volcanic action that ensues from volcanic eruption

Voluntary parting with property by trick or device Yes no

collapse Yes Yes, limited to listed causes of loss

artificially generated electrical current Yes no, with an exception for loss from ensuing fire

rain, snow, ice or sleet to personal property in the open Yes no

Business Income Coverages

extra expense $250,000 Must Purchase

any Other Location $50,000 not available

Dependent business Premises $250,000 worldwide Must Purchase

exhibition, Fair or Trade show $25,000 not available

Loss of utilities, including the internet $25,000 Must Purchase

newly acquired Premises $250,000/180 days $100,000/30 days

automatic extended Period of indemnity unlimited 30 consecutive days; can purchase up to 720 days

Ordinance or Law Yes Must Purchase

Preparation of Loss Fees $25,000 not available

Fungus cleanup or removal 45 consecutive days; subject to bi/ee limit

30 days; subject to bi/ee limit

ingress & egress $50,000 not available

civil authority 30 consecutive days; loss or damage must occur within one mile of insured’s premises

4 consecutive weeks; loss or damage must occur within one mile of insured’s premises

Pollutant cleanup or removal $25,000 not available

Lessor – Tenant relocation expenses $25,000 not available

Other Property/Business income Feature

impairment of computer services – Malicious Programming inside attack Outside attack (per occurrence) Outside attack (annual aggregate)

$100,000 (includes employees) $10,000 $50,000

$2,500 annual aggregate limit (interruption of computer Operations); excludes employees

General Liability Coverage Features Customarq for Law Firms (Rev. 4/01)

Typical Industry Policy (Rev. 12/07)

Who Is An Insured

Vendors automatically included as insureds Yes no

Lessors of equipment and premises automatically included as insureds Yes no

existing subsidiaries, including unscheduled partnerships, joint ventures and limited liability companies, automatically included as insureds

Yes no

new subsidiaries, including unscheduled partnerships, joint ventures and limited liability companies, automatically included as insureds to end of policy period

Yes no, limited to 90 days and no coverage for unscheduled partnerships, joint ventures or limited liability companies

employees, including leased workers and volunteer workers, are automatically insureds, including bodily injury to co-employees caused by cardiopulmonary resuscitation and first aid

Yes no

Directors, managers, members, officers, partners and supervisors are automatically insureds, including bodily injury to employees

Yes no

Property Coverage Features Customarq for Law Firms

Typical Industry Policy (Rev. 6/07)

Covered Exposures

Oral and written contractual liability: bodily injury/property damage Yes Yes

Written contractual liability: personal/advertising injury Yes no

Worldwide coverage territory for all covered suits brought in the u.s., its possessions or territories, canada or Puerto rico

Yes no

Medical expenses protection reporting period Yes, three years from date of accident

Yes, but limited to one year from date of accident

Medical expenses, including injury to insured’s tenants and persons working on insured’s behalf

Yes no

Definition of bodily injury includes humiliation, mental anguish, mental injury and shock resulting from physical injury

Yes no

Definition of personal injury includes discrimination, harassment and segregation (other than employment-related)

Yes no

Definition of advertising injury includes trademark infringement Yes, if registered collective mark, registered service mark or other registered trademarked name, slogan, symbol or title

no

nonowned aircraft – with crew Yes no

nonowned watercraft Yes, if less than 55 feet Yes, but limited to less than 26 feet

Pollution exclusion exceptionsHostile fire Off-premises operations Products/completed operations Leakage of fluids for mobile equipment at job sites Job site building materials building heating equipment

Yes Yes

Property damage (all-risk) to rented premises Yes no, peril of fire only and sublimited

War and insurrection Yes no

Limits of Insurance and Supplementary Payments

separate advertising/personal injury aggregate limit, not subject to general aggregate limit

Yes no

supplementary paymentsappeal bond amounts up to limit of insurance bail bond amounts up to limit of insurance Loss of earnings

Yes Yes Yes, $1,000/day

no no, limited to $250 bond cost Yes, limited to $250/day

indemnitee’s defense expenses payable in addition to limits Yes no, reduce limits unless conditions met

General Liability Coverage Features Customarq for Law Firms (Rev. 4/01)

Typical Industry Policy (Rev. 12/07)

Chubb Group of Insurance Companies | www.chubb.com

This comparison was prepared solely by chubb and highlights features of the policies referenced as of July, 2009 and is subject to change without notice. This chart is provided only as an aid in the basic comparison of chubb’s customarq for Law Firms package policy form with that of the Typical industry Policy. all statements are based upon good-faith, objective readings of the language of the policy forms referenced, without endorsement.

chubb refers to the member insurers of the chubb Group of insurance companies: Federal insurance company, Vigilant insurance company, Great northern insurance company, Pacific indemnity company, northwestern Pacific indemnity company, Texas Pacific indemnity company, executive risk indemnity inc., executive risk specialty insurance company, chubb custom insurance company, chubb indemnity insurance company, chubb insurance company of new Jersey, chubb national insurance company, chubb Lloyds insurance company of Texas.

not all insurers do business in all jurisdictions. This literature is descriptive only. actual coverage is subject to the language of the policies as issued.

Form 80-01-0053 (rev. 6/14)